Yardbarker
x
Report: Jack Johnson won't sue parents over bankruptcy
Columbus Blue Jackets defenseman Jack Johnson has had some financial issues the past few years. Christopher Pasatieri/Getty Images

Report: Jack Johnson won't sue parents over bankruptcy

It can't be easy having a public squabble over money, let alone one with your parents. That has been the case over the last year for Columbus Blue Jackets defenseman Jack Johnson, who had to file for bankruptcy due to a heaping amount of debt — a debt that Johnson alleges was caused by his parents.

But the Blue Jacket decided not to sue is parents over the matter, Rick Westhead of TSN reported on Monday. The reason? Johnson reportedly said that he is "unlikely to recover money or assets" from his parents and that they are currently trying to make ends meat.

The troubles surrounding Johnson's finances date back to the end of the 2013-14 NHL season, when the Blue Jackets were contacted about Johnson's financial upheaval. Johnson since alleged that his parents, Jack Sr. and Kristina, were responsible for the millions of dollars of debt, due to them taking out a number of high-interest loans in his name, Westhead reported. Upon hiring a business manager, Johnson "learned that his parents had opened 17 bank accounts in his name, and had invested in real estate, life insurance, and jewellery," Westhead reported.

Meetings with the defenseman's lawyer and parents in February revealed that the couple had worked a number of odd jobs over the last couple of years and didn't bring in much money.

Even without going after his parents, this firestorm is far from over. Creditors are still knocking down Johnson's door demanding his debts be paid. Johnson has also recently asked a judge to change his bankruptcy from Chapter 11 to Chapter 7, which Westhead explains has shorter proceedings and would allow Johnson "to keep those future earnings for himself, instead of being forced to commit some of his salary to repaying his former lenders."

More must-reads:

Customize Your Newsletter

+

Get the latest news and rumors, customized to your favorite sports and teams. Emailed daily. Always free!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.